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AZPROMO eyes attracting foreign direct investments in Azerbaijan's liberated territories

Economy Materials 16 December 2021 09:45 (UTC +04:00)
AZPROMO eyes attracting foreign direct investments in Azerbaijan's liberated territories

BAKU, Azerbaijan, Dec. 16

By Sadraddin Aghjayev – Trend:

Azerbaijan Export and Investment Promotion Foundation (AZPROMO) plans to attract foreign direct investments in the territories liberated from Armenian occupation [in the 2020 second Karabakh war], acting head of AZPROMO Yusif Abdullayev told Trend.

According to Abdullayev, in the future, the country will also be able to attract foreign investments both in the liberated territories and in the Alat Free Economic Zone.

"A special department has been created under the Ministry of Economy of Azerbaijan to deal with the regulation of current and future projects. Moreover, as to date, we have received nearly 1,000 requests for participation in projects in Karabakh. About 300 requests fall on foreign companies. The requests mainly offer services of contractors, design, and creation of infrastructure," he said.

Besides, the acting CEO added that AZPROMO will attract direct foreign investments in the liberated territories, including Karabakh, after the creation of the appropriate infrastructure.

The direct foreign investments in Azerbaijan’s economy over the recent years amounted to nearly $60 billion and in the first nine months of 2021 – about $580 million.

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